AssetID: 56032643
Headline: UNCAPTIONED: Warren Buffett Leaves Berkshire Hathaway Chair After More Than 50 Years
Caption: Warren Buffett Leaves Berkshire Hathaway Chair After More Than 50 Years. Warren Buffett has stepped down as chairman of Berkshire Hathaway after more than five decades in the role, marking the latest stage in the succession of one of the world's best-known investors. The 96-year-old will become chairman emeritus and remain on Berkshire Hathaway's board, while his son Howard Buffett takes over as chairman. Buffett had already stepped down as chief executive late last year, when Greg Abel became CEO, leaving the latest move as the final major step in his departure from the company's leadership. His investment legacy includes major bets on companies such as Apple, which Berkshire began buying in 2016 and which became one of the conglomerate's largest holdings. Berkshire also invested $232 million in Chinese carmaker BYD in 2008, an investment that at one point grew to be worth more than $9 billion before Berkshire gradually sold its stake. Buffett has also been a notable political figure in the United States, although he has generally avoided becoming closely identified with a particular politician. He has traditionally supported Democrats and in 2016 endorsed Hillary Clinton, while advocating higher taxes on wealthy Americans and other Democratic-leaning policies. In 2020, Buffett said he was not a “card-carrying” member of the Democratic party, adding that he had sometimes voted Republican or supported Bernie Sanders' positions. His retirement therefore comes as the billionaire leaves behind not only a huge business legacy but also decades of involvement in debates over taxation, inequality, capitalism and US politics. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Warren Buffett,resigns,steps down,Berkshire Hathaway,historic,run,investor,renowned,businessman,politics,Hillary Clinton,Republican,Democrat,end,era,son,Howard Buffett,Greg Abel,Apple,BYD
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